Fiscal rules: timing is everything. Bruegel Policy Brief 2012/02, September 2012

摘要: The strengthening of the European Union’s fiscal rules with approval so-called ‘six-pack’, and parallel worsening economic conditions in Europe, re-opened debate about relationship between discipline growth. Influential voices have argued against EU’s perceived obsession discipline, which risks being self-defeating bad times. However, EU are not as rigid commonly thought, but represent a sophisticated system surveillance ex-post control that provides sufficient room for manoeuvre under exceptional circumstances.